How Much Does it Cost to Rent Office Space in East London?
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Drawing its celebrated heritage from an industrial past, East London houses cutting-edge startups supported by incubators and accelerators which contribute to this dynamic atmosphere. It is also a haven for creativity with buzzing restaurants and bars that offer innovative cuisines and craft beers. With vibrant cultural experiences at every turn, it's easy to see why East London continues welcoming businesses looking for inspiration through history and culture alike.
In our East London Price Guide, we explore:
- Key trends driving office rental rates in East London
- Median office rental rates in East London
- Top serviced office and coworking operators in East London
- Key business districts to rent office space in East London
Key Trends Driving Office Rental Rates in East London
East London has emerged as a highly desirable location for businesses, offering efficient transport links such as the Elizabeth Line that connect it with the City of London without the high costs associated with it.
The area's cutting-edge tech and creative industries have generated a surge in demand for office space, prompting businesses to consider East London as a viable location for their operations. In addition, recent development efforts have transformed East London into a modern and highly sought-after hub, attracting businesses to set up within its boundaries. With numerous social hotspots and verdant green spaces, adding to its allure, the appeal of the area is sure to grow, making it a drawcard to attract talented new employees.
At a median desk rate of £450 per month, East London represents the best value and location combination of all regions in London. As we enter 2024, we expect that prices will remain flat until inflation is under control and business sentiment improves giving businesses time to find the ideal office for their needs.
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Vacancy Rate Trends in East London
After falling steadily in the second half of 2022, vacant floor space across East London increased 6.5% in the most recent quarter.
The chart above shows the vacant flexible office space in sq.ft, across East London to March 31, 2024. Source Rubberdesk real-time availability.
Desk Rate Trends in East London
As one the more affordable regions in London with quick access via transport, East London's desk rate held steady throughout the first half of the year, ending Q1 at £450 per desk per month.
The chart above shows the median office price /person /month of vacant flexible office space across East London to March 31, 2024. Source Rubberdesk real-time availability.
Median Office Rental Rates in East London
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £450 | £250 | 534,300 | 10,686 |
Comparing Prices by Office Size in East London
When considering the cost of flexible office space, it's important to know that prices vary by a range of factors including location, amenities and the size of the office. Larger offices tend to cost a bit more as they may include private meeting rooms, extra amenities as well as a private entrance. Median rates in East London, for example, range from £400 per desk for a 5-10 person office to £550 per desk for a 50 plus person office.
The true value of East London really shines when you compare rates by office size with the cost across greater London for the same size of office. For example, it's not uncommon to see prices in East London up to 6% cheaper than offices elsewhere in the city as is the case to rent a 5-10 person office. For larger teams of 50 plus, the discount rate compared to other areas in Central London is up to 22% lower. With quick access to the city via the Elizabeth Line, there are very few reasons today, not to consider East London as a viable option to host your business.
Median Monthly Office Rent in East London by Location
With its proximity to the City of London, its no surprise that desk rates in East London range from over £728 in Wapping to £340 and £172 per desk in Stratford and Canning Town. Though rates may be more affordable in outlying areas, options such as size are typically limited.
Office Capacity by Floorspace and Size
Regarding the availability of offices in each area, you'll find a wide range of options for various teams and supply in East London.
While smaller offices for teams with 15 or fewer people tend to make up 70% or more of the available offices in most locations, this is not the case in East London. In fact, smaller offices only make up 51% (down from 61% in early 2023) of the available inventory in East London leaving room for larger teams of 26 or more people to find the office that works best for them. With extra space for private meeting rooms and additional amenities, it's not surprising that offices for larger teams of 26 or more people represent a considerable portion of the available floorspace in East London and come at a slightly higher premium per desk compared to smaller offices.
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East London Serviced Office Operators
Like many costs in business, office space comes in many different varieties often defined by location, quality of the building and amenities. In East London, Servcorp and Kitt lead the top end at a price of over £834 per desk while The Office Group and The Brew provide great value for those on a tighter budget at rates below £500 per desk per month.
Comparing one operator to the other is not always easy on price alone as most operators have their own vibe, style & fit-outs that differentiate them from others. Thus we often recommend that businesses tour a number of spaces to get a good sense of the overall style instead of selecting on price alone. WeWork vs Regus for example often have very different styles. While WeWork's office style is often described as casual and relaxed, better for startups and digital professionals, Regus (IWG) is professional and corporate, better suited for legal, financial and corporate professionals.
What does it the Cost to Rent Flexible Office Space in East London?
Finding an office space for your team can be overwhelming, but if you clearly outline your needs, such as how many desks you require, and a rough idea of the desired location and amenities, finding the right solution is easier than you think. The following table breaks down the cost of office space by the number of desks to make it easy to start your search.
| City | 1-4 Desks | 5-10 Desks | 11-15 Desks | 16-25 Desks | 26-50 Desks | 50+ Desks |
|---|---|---|---|---|---|---|
| Shoreditch | £313 | £400 | £462 | £440 | £800 | £833 |
| Spitafields | £400 | £425 | £450 | £450 | £466 | £592 |
| Whitechapel | £520 | £475 | £330 | £532 | £488 | £510 |
| Hackney | £500 | £300 | £300 | £400 | ||
| Hoxton | £375 | £450 | £462 | £532 | £268 | £588 |
| Canary Wharf | £434 | £450 | £464 | £500 | £500 | £409 |
Source Rubberdesk. All prices accurate as of December 31, 2023
Key Business Districts to Rent Office Space in East London
East London has become an attractive destination for businesses due to its modern infrastructure and strong links with the City of London. Its growing presence in tech and creative sectors has driven up office space demand, leading developers to invest heavily in the area's transformation. Here are a few of the key business districts in East London with their associated price and availability.
Spitafields, East London
Located in a prime area of East London on the board with Central London, Spitalfields is perfectly positioned for businesses looking to be close to amenities and transport links. Its proximity to renowned spots such as Shoreditch and Brick Lane - along with Liverpool Street Station provides easy access around town. The area entices businesses with its vibrant cultural spirit and captivating atmosphere. From independent shops to bustling street markets, hip cafes, and trendy restaurants - this area has something for everyone! Its diverse selection of offerings is sure to open up new doors for any business willing to embrace it.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £492 | £430 | 52,600 | 1,052 |
6 Person Office Space in Devonshire Square
9 Devonshire Square London, EC2M
15 Person office available
63 Saint Mary Axe London, EC3A
External Private Office for up to 16 People | 600 Sq. Ft.
Liverpool Street 199 Bishopsgate London, EC2M
Private Office for up to 28 People | 1,349 Sq. Ft.
Suite 309, 70 Saint Mary Axe London, EC3A
Private Office Space for up to 25 Desks | 1,798 sq. ft.
Connexion House Dray Walk, The Old Truman Brewery London, E1
External Private Office for up to 38 People
3rd Floor, 68-80 Hanbury Street Spitalfields London, E1
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Canary Wharf, East London
Canary Wharf is an esteemed business hub at the epicenter of East London, housing renowned financial institutions, law firms and professional services companies. Situating your company in such a prestigious district offers many benefits - from bolstering reputation to expanding opportunities for client attraction and garnering competitive advantage. Professionals have access to the latest tech-enabled meeting rooms, conference facilities, restaurants, cafes and shops - creating a comprehensive working environment that will keep everyone connected.
Supported by the Jubilee and Elizabeth lines, DLR services, multiple bus routes and close proximity to the City Airport, Canary Wharf offers extraordinary ease and convenience for your team.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £450 | £249 | 130,850 | 2,617 |
Private Office for up to 40 People plus Meeting Room | 3,300 Sq. Ft.
602, 77 Marsh Wall Canary Wharf London, E14
Private Office for up to 14 People | 520 Sq. Ft.
TYPE at Sierra Quebec Bravo 77 Marsh Wall London, E14
Private Office for up to 20 People | 733 Sq. Ft.
TYPE at Sierra Quebec Bravo 77 Marsh Wall London, E14
Studio - Internal Private Office for up to 3 People | 119 Sq. Ft
TYPE at Sierra Quebec Bravo 77 Marsh Wall London, E14
14 Person Office Available
25 Cabot Square London, E14
Internal Private Office for up to 5 People | 222 Sq. Ft.
TYPE at Sierra Quebec Bravo 77 Marsh Wall London, E14
Shoreditch, East London
Shoreditch is an excellent choice for businesses that thrive in a collaborative atmosphere - from tech startups to creative enterprises. With its many co-working spaces and tech incubators, it's easy to network with other innovative minds. You'll also appreciate the area’s vibrant culture including art galleries, live music venues, and trendy eateries – perfect for creating your own unique brand identity or recruiting top talent! And if you're looking for something special when choosing workspace requirements: converted warehouses through to modern purpose-built buildings are all available in East London.
Shoreditch offers exceptional transport options for its visitors. Commuting is made easy with multiple Overground links to nearby business districts such as The City and Canary Wharf. Furthermore, trips abroad become more accessible through convenient access to London City Airport.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £438 | £200 | 41,250 | 825 |
42 Person Office Available | 2,195 Sq. Ft.
32-38 Scrutton Street Shoreditch South London, EC2A
1-4 Private Offices in London - Approx. 132 sqft,
224 Shoreditch High Street London, E1
Private Office for up to 20 Desks | 500 Sq. Ft.
69-77 Paul Street Shoreditch London, EC2A
10 Person Office Available
154-158 Shoreditch High Street London, E1
16 Person Office Available
154-158 Shoreditch High Street London, E1
Private Office for up to 35 People
14 Hewett Street London, EC2A
Whitechapel, East London
Whitechapel is a rapidly growing area of London that offers businesses the perfect combination of world-renowned academic institutions, the potential for growth through regeneration and development projects, as well as multicultural diversity. This makes Whitechapel highly attractive to organizations looking to take advantage of its resources - from collaborating with education facilities nearby or leveraging an increasingly talented pool of graduates ready to enter the job market - all while connecting with their broad customer base in this culturally rich part of town.
With highly affordable office spaces and excellent transport links - including a range of bus routes and tube stations on the District and Hammersmith and City lines - it provides practical access to all major business hubs in Greater London and worldwide with London City Airport nearby.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £465 | £200 | 125,450 | 2,509 |
41 Person private office available
2 Leman Street London, E1
External Private Office for up to 18 People
2nd Floor, 68-80 Hanbury Street Spitalfields London, E1
Private Office Space for up to 30 Desks | 2,185 sq. ft.
Connexion House Dray Walk, The Old Truman Brewery London, E1
Private Office for up to 27 People | 1,888 Sq. Ft.
88-94 Wentworth Street Universal House, Shoreditch London, E1
5-7 Person Office Available -235 sq ft
28 Leman Street London, E1
Private Office for up to 32 People | 1,597 Sq. Ft.
3rd Floor, 18 East Tenter Street Albion Mills, Aldgate London, E1
St Katherine's & Wapping, East London
St Katherine's and Wapping offers a picturesque and peaceful work environment, thanks to its stunning views of the River Thames. Easy access is provided by various transportation links such as the Docklands Light Railway (DLR), bus routes, Tower Hill station and Aldgate East stations; ensuring employees can easily reach their destination. With an array of modern buildings contrasted with historic warehouses at your disposal - businesses are gifted with flexible options when selecting office space that perfectly fits their needs.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £687 | £500 | 30,200 | 604 |
Private Office for up to 2 People
1 Saint Katharine's Way London, E1W
Private Office for up to 15 People
46-48 East Smithfield, Tower Bridge, St.Katharine Docks London, E1W
Private Office for up to 9 People
1 Saint Katharine's Way London, E1W
Private Office for up to 40 People
1 Saint Katharine's Way London, E1W
Private Office for up to 50 People
Tower Hill, 1 Moretown, 4 Thomas More Street London Bridge Station, E1W
Private Office for up to 40 People
1 Saint Katharine's Way London, E1W
Haggerston, East London
Haggerston offers a unique and inspiring business ecosystem comprised of tech startups, media companies, and design firms. Its convenient transport links provide easy access to London's bustling commercial centers such as the City of London and Canary Wharf. Furthermore, its proximity to vibrant amenities like restaurants, cafes, shops and gyms makes it an ideal location for businesses looking to foster creativity in their employees while giving them all they need just around the corner.
Haggerston is an ideal area for businesses looking to maximize their budget and grow quickly. With competitively priced, serviced office space at your disposal with no long-term commitment necessary, companies can benefit from the flexible scalability provided by reliable providers.
| Median Office Rate Per Person | Median Coworking Desk Rate | Flex Floorspace Available (sq. ft.) | Available Desk Capacity |
|---|---|---|---|
| £463 | £249 | 72,400 | 1,448 |
Private Office for up to 36 People | 1,731 Sq. Ft.
6 Orsman Road London, N1
6 Person Office Available
6 Yorkton Street London, E2
Private Office for up to 27 People | 1,323 Sq. Ft.
6 Orsman Road London, N1
7 Person Office Available
6 Yorkton Street London, E2
24 Person Office Available
6 Yorkton Street London, E2
Private Office for up to 48 People | 2,400 Sq. Ft.
6 Orsman Road London, N1
Author: Tom Petryshen, VP Growth & Analytics
Updated: April 24, 2024
Frequently Asked Questions
How much does it cost to rent office space in East London?
As of March 31, 2024, the median price for office space in East London is £450 per person per month.
How much does it cost to rent a coworking desk in East London?
The median cost to rent a coworking or hot desk in East London is currently £250 per person.
Our Office Price Guides
- UK Office Space Price Guide
- Central London Space Office Price Guide
- City of London Office Space Price Guide
- East London Office Price Guide
- West London Office Space Price Guide
- Birmingham Office Space Price Guide
- Manchester Office Space Price Guide
- Scotland Office Space Price Guide
- Dublin Office Space Price Guide
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